National Bank Financial Cuts Nevada Copper (TSE:NCU) Price Target to C$0.50

Nevada Copper (TSE:NCU) had its price target lowered by National Bank Financial from C$0.60 to C$0.50 in a research report released on Monday, BayStreet.CA reports. The brokerage currently has an outperform rating on the mining company’s stock. National Bank Financial also issued estimates for Nevada Copper’s FY2020 earnings at ($0.01) EPS and FY2021 earnings at ($0.01) EPS.

Shares of NCU stock opened at C$0.32 on Monday. The firm has a fifty day moving average of C$0.34 and a 200-day moving average of C$0.39. The company has a quick ratio of 1.89, a current ratio of 1.93 and a debt-to-equity ratio of 33.28. Nevada Copper has a 12-month low of C$0.30 and a 12-month high of C$0.55. The company has a market capitalization of $259.06 million and a price-to-earnings ratio of -20.00.

About Nevada Copper

Nevada Copper Corp., a development stage mining company, engages in the identification, acquisition, exploration, and development of copper and other mineral properties in Nevada. It explores for copper, gold, silver, and iron ores. The company holds 100% interest in the Pumpkin Hollow copper property that consists of a contiguous 27 square mile land package comprising private lands, patented, and unpatented mineral claims located in north-western Nevada.

Further Reading: Why is the price target of stocks important?

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